Bridgehouse Capital, one of the UK’s largest privately-held investment groups, has bought Filton Airfield in a multi-million pound deal.
Owner BAE Systems confirmed the sale today as the last flights at the airfield took place. The 350-acre site has been in operation for more than 100 years and is seen by many as the birthplace of the UK aviation industry. It has been responsible for some notable events including the first UK test flight of Concorde in 1969.
While the land does not have full planning permission it has been earmarked for housing and employment use in South Gloucestershire Council’s latest development blueprint. It is believed a planning application will be put together in the spring to develop the site with around 2,500 homes.
Airbus, which operates its UK design and engineering facility at the site, has said the closure would have no significant impact on its business. But Bristol’s mayor George Ferguson added he feared BAE Systems was looking at short-term economic gain over long-term thinking.
BAE Systems says Filton is no longer economically viable. It is providing £2m and an 8-acre site to support the Bristol Aero Collection Trust in its plans to create an aviation heritage museum and learning centre.
Some media reports said London-based Bridgehouse has paid £120m for the airfield. Bridgehouse, which also has offices in Qatar and New York, manages a global portfolio of investments spanning property development, IT and telecoms, energy, natural resources and marine engineering.
